The Examiner
Tim Carney:
Senior political columnist
Washington, DC
December 31, 2012
The Washington Examiner
An all-star lineup of lobbyists, featuring former congressmen and many of Obama's closest allies, is fighting to save a tax credit for wind energy that expires at midnight Monday.
Congress created the Production Tax Credit in 1992 as a way of supporting the wind power industry until it could be self-sufficient. Twenty years later, the PTC is still subsidizing the likes of General Electric and Siemens and has been expanded to include solar and biomass. Companies get a tax credit of a penny or two for every kilowatt-hour their windmills or solar panels produce in their first 10 years. It's worth $1.4 billion a year to its beneficiaries.
No comments:
Post a Comment